Could Prosus get another bite at Just Eat?
UK regulator investigates merger between Just Eat and Takeaway after deal was assumed to be in the bag
The UK’s Competition and Market Authority (CMA) is beginning to cause problems for technology companies fixated on acquiring their way to a powerful network position.
The regulator announced it had decided to investigate the merger between London-based Just Eat and Amsterdam-based Takeaway only days after the two parties had assumed the deal was in the bag. In mid-January, after an almost seven-month battle with Prosus (https://www.sharenet.co.za/v3/quickshare.php?scode=PRX), Takeaway declared victory when 80% of Just Eat shareholders backed their share swap offer over Prosus’s cash offer.
The merger was intended to create a meal delivery company big enough to compete against GrubHub, Delivery Hero and Uber Eats in the UK...